Finance review
Tullow continued to deliver a strong operating performance in the first half of 2007. Production reached nearly 70,000 boepd and oil pricing continued to be strong, although the realised UK gas price, which relates to approximately 40% of current production, was sharply lower than in 2006 and this materially impacted results for the period. During the period, Tullow also completed the acquisition of Hardman and the performance and fair values associated with these interests have been consolidated with effect from 1 January 2007. The Group continues to generate significant operating cash flows and remains well financed to meet its ongoing investment opportunities.
